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Xiaomi to roll out 20,000 new retail stores across rural China over next three years to drive smartphone ambitions
- Xiaomi will build up its retail network in lower-tier cities and small towns across China’s countryside, which make up 70 per cent of domestic smartphone demand
- The Beijing-based company currently operates a network of 10,000 bricks-and-mortar stores in the world’s largest smartphone market
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Xiaomi will roll out 20,000 more retail stores across mainland China over the next three years to expand its business in the country’s vast rural areas, while helping drive the company’s goal to become the world’s top smartphone vendor by 2024.
That ambitious retail infrastructure programme in the world’s largest smartphone market was revealed by Xiaomi senior vice-president Lu Weibing, who serves as president of China operations, in a post on microblogging platform Weibo on Thursday. Investment details were not given.
The domestic market is Xiaomi’s “base camp”, Lu wrote. He said the company’s plan involves building its offline presence in “sinking markets”, referring to the lower-tier cities and small towns across China’s countryside, which account for 70 per cent of the domestic smartphone market.
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Beijing-based Xiaomi, which was initially known for growing local demand for its Android-based smartphones and other products by selling only online, currently operates a network of 10,000 bricks-and-mortar stores across the country.
“Xiaomi won’t aim at surpassing any particular brand,” Lu said in his post. “Since Xiaomi’s goal is to be No 1, it means surpassing all other smartphone brands – including Apple.”
02:06
What's behind Xiaomi's meteoric rise?
What's behind Xiaomi's meteoric rise?
The firm’s new retail expansion initiative in China’s rural areas reflects how competition in the smartphone industry remains intense even as Huawei Technologies Co, the world’s largest telecommunications equipment maker and formerly China’s biggest smartphone vendor, continues to struggle because of US trade sanctions.
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